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Found 7 results

  1. November 14, 2008 by Deyanira Bautista Filed under Montreal Market Report According to the Greater Montréal Real Estate Board’s MLS® system, there were 36,955 transactions from last year until now. 4% less sales compared to last year. In terms of property prices in the Metropolitan Area of Montréal, the median prices of single-family homes and plexes increased by 6% compared to the same period last year, condominium prices increased by 3%. Compared to the first 10 months of 2007, condo sales grew by 5% in the Montréal Metropolitan Area. On the other hand, sales of single-family homes decreased by 7%, and plex sales decreased by 5%. “The median price of a single-family home grew last month by 4 per cent, increasing from $220,000 in October 2007 to $228,000 in October 2008. The plex market retained a stable median price at $329,250, while that of condominiums fell slightly by 1 per cent. This decrease can be explained by the minor decline in median prices of condominiums on the Island of Montréal, the largest condominium market. October’s resale market continues to favour sellers, despite a 9 per cent increase in the number of active listings in the MLS® system.” Source: Montreal Real Estate Board http://montrealrealestateblog.com/
  2. Welcome to the province of tax tax tax. Now we're poorer and can't keep up with the cost of living. So much for le modele Quebecois. We need to make some adjustments to improve our collective wealth http://montrealgazette.com/business/local-business/quebecers-high-taxes-take-toll-on-buying-power "Despite a slight increase in disposable income, Quebecers have not been keeping up with cost-of-living increases, giving residents of la belle province the second lowest buying power of any province in the country, according to l’Institut de la statistique du Québec. Only Prince Edward Island has less buying power. According to the latest figures, disposable income in Quebec increased 0.9 per cent in 2013. At the same time, the consumer price index grew by 1.2 per cent. Therefore, real disposable income per resident declined by 1.2 per cent— the first time this figure has gone down since 1996. The reasons for the reduction in buying power are taxes and contributions to social programs, the institute says. With an average disposable income of $26,774, Quebec ranked second to last in 2013. Disposable income in P.E.I. was $26,439 per resident. The Canadian average is $30,746."
  3. Finance guys all have Montreal roots Despite similar backgrounds, paths never crossed Elizabeth Thompson, Gazette Ottawa Bureau Published: 5 hours ago OTTAWA - They grew up only a few miles apart, when Montreal reigned as Canada's financial centre. All are products of English Montreal schools, born within five years of each other. They had newspaper routes - two hauling The Gazette; the third the Montreal Star. All three have sons. In all cases, their mothers have survived their fathers. All saw major changes to their careers at about the same time, in 1994-95. Before they were handed the finance portfolio by their respective parties, Conservative Jim Flaherty, Liberal John McCallum and New Democrat Thomas Mulcair's paths had never crossed. Now, as MPs prepare to deal with the mini-budget Flaherty is to deliver Tuesday, the paths of the three Montreal anglos will cross often. If you include Bloc Quebecois finance critic Paul Crete, who hails from Herouxville, all four MPs tasked with the finance portfolio grew up in Quebec. Typical of Montreal's anglo community, two of them - Flaherty and McCallum - headed down the 401 for better opportunities and now represent ridings in the Toronto area. However, all three say the experience of growing up as English Montrealers still influences how they approach life - and finance. Born Dec. 30, 1949, the finance minister is the oldest. Sixth of eight children in an Irish Catholic family, Flaherty grew up in a modest house on Broadway Ave. in Lachine. "I look at what my own kids expect today, their own rooms and so on," the father laughed of three sons. "We dreamed about that kind of thing." It was also in that neighbourhood the man who is now responsible for raising revenue for the government had his first job, delivering copies of the Star. "I had to go out and collect from people." After elementary school, Flaherty went to Loyola High School. While there, his family moved to N.D.G. in a house where his mother still lives. A hockey scholarship took him to Princeton University at age 16 in the mid-1960s. From there he did his law degree at Osgoode Hall in Toronto. Flaherty said his upbringing in Montreal and his years at Loyola are reflected in some of the measures he has introduced, such as his ground-breaking registered disability savings plan. "Those are part of the values that I grew up with. That you look to see if there is uneveness and try to level the playing field. Not to make everyone the same but to make sure everyone has equal opportunity. I think that comes from growing up in Montreal." Watching Canada's financial centre shift from Montreal to Toronto also influenced Flaherty. "We grew up thinking of Montreal as a financial centre. Of course, later Toronto grew as a financial centre and now Calgary. So it teaches me the dynamism of the movement of capital." Studying the movement of capital is what took McCallum to Toronto when he left his job as a professor at McGill University in 1994 to become chief economist for the Royal Bank. Born April 9, 1950, one of four children, McCallum's upbringing was perhaps the most privileged. He was raised in Pointe Claire, Senneville (where he delivered The Gazette) and then Westmount, where he attended Selwyn House. From 14 to 18, McCallum boarded at Trinity College School in Port Hope, Ont., then studied in Cambridge and Paris before returning to do a PhD at McGill. He worked in Manitoba and British Columbia from 1974 to 1982 before teaching at the Universite du Quebec a Montreal, then McGill. McCallum said his time at UQAM had a lasting effect. "That experience of being at UQAM, which is not only French but kind of sovereignist, influenced my thinking quite a lot about Quebec, about Quebec and Canada. Being an anglo Montrealer but also being immersed in the franco world has influenced my thinking quite a bit." While McCallum has never met Mulcair, he knows a number of the people Mulcair worked with at Alliance Quebec. His three sons are about the same age as Mulcair's two, and both men worked for the Manitoba government - Mulcair only a few years after McCallum. Born Oct. 24, 1954, Mulcair is the youngest, and the newest arrival to Parliament, elected in last month's Outremont by-election. The offspring of an Irish-Canadian father and a French- Canadian mother, Mulcair, like Flaherty, grew up in a large family of 10 children where he had to learn to fend for himself. Like Flaherty, one of his first jobs was a paper route. "That's how I had spending money through high school and into CEGEP. I had a really big route. I had over 100 Gazettes on Saturday." His years at Laval Catholic High School "probably gave me a little bit better preparation for the rough and tumble," he says. Mulcair, who studied law at McGill, took the leap into politics in 1994, only a few months before Flaherty did, getting elected as a Liberal to the National Assembly. Like Flaherty, he went on to serve in cabinet. Like his counterparts, Mulcair says his background as an anglophone Montrealer will play a role in how he approaches his new job as NDP finance critic. "It gives me a lot of sensitivity to the priorities of Quebecers." [email protected]
  4. Read more: http://www.montrealgazette.com/business/Quebec+real+estate+prices+cent+from+2000+2010/4517279/story.html#ixzz1I5MEJCH1 Next stop, New York prices? At the way the prices are going, I will for sure have a hard time buying a home. True, I could always look into condos, but paying maintenance fees each month
  5. PEOPLE WHO CHOSE to leave Montreal acknowledge there's an intensity here that exists nowhere else By MARIANNE ACKERMAN, Freelance In deepest Prince Edward County where I spent the summer, Montreal is a pleasant vacation destination, a colourful rumour but not exactly front page. Toronto being only two hours farther west along Lake Ontario, I'd imagined making one or two quick trips, touching bases with people on my email list, and reading the fat metro edition of the Globe and Mail for an idea of what's really happening in that good city. But from the day my 12-year-old nephews helped me rip up the dingy carpet in the farmhouse where I grew up, time and space closed in. We were off on an arduous reno campaign and city life -even this column -ceased to exist. Until I met Pat Scott. A Saturday night, I headed toward Picton and the Waring House, one of the fancy restaurants that have sprung up since "the County" acquired vineyards, to meet a friend from my high school days, Francine Diot, who lives in nearby Grafton. She was bringing a friend whom she described as a former Montrealer always looking for a chance to practise her French. (A French native, Francine often finds herself in the unofficial tutor role.) As it turned out, a very lively evening did not unroll en francais, although every time Pat Marshall Scott used a French word, which was often, her voice slid into another key, as if the words were set in italics. Thoroughly francophile, she speaks French with the clarified buttery accent of a well-bred schoolgirl, and is still burning candles for a place she left more than 40 years ago. "If you could walk away and let it go, it wouldn't matter," she sighed, trying to explain why she felt compelled to pelt me with questions about what Montreal life is like these days for an anglophone of our generation. "I go back often as a visitor, and now that I'm 60 and able to move, I ask myself, could I live there? If so, where? What's it really like, I mean beyond the beauty of the city, the museums, the parts I see on every visit?" I hardly knew what to answer, but it was a rhetorical question anyway, one I've heard before from members in that large group of people who grew up in Montreal and chose to leave. Inevitably, their life stories include a brush with politics. Pat was born in Granby. Her parents, the Marshalls, moved to Beaconsfield, where she went to high school. As a teenager, she made regular trips into the city and learned French. In 1968, she got into l'Ecole des Beaux Arts on Sherbrooke St., but that was the year the teaching staff decided to go on strike instead of teaching, so she didn't get much out of the experience. Instead, at 17 she headed west, enrolled in the Vancouver School of Art, and started painting. In the mid-'70s, she had an exhibition at the Nancy Poole gallery, one of the first in the then-hopping Yorkville area of Toronto, and ended up running the gallery with a partner until retiring in 2003. Now she lives with her husband on a small farm near Grafton. The main crop is lavender. She holds a festival featuring dozens of varieties every spring. A good life, far from what she describes as the "brutal" world of art and even farther from her youthful roots, yet there is that little something missing. A lingering sense of not quite belonging where she is. It's a state of mind, created by the unanswered question, could I live there? Many Ontarians I talk to imagine that the only possible obstacle to being totally happy in Montreal is their inability to speak French. Pat, who has returned regularly to visit family and trade in the antique market, knows differently. "This may sound odd. But the biggest difference I notice about Montreal and other places is, well, let's call it the lack of politesse. Beginning with the way people drive, it's as though they're all living in some kind of bubble and other people don't exist." Her brother, who didn't leave, provides her a window onto a younger scene. "It seems that in Toronto young people are gung-ho to get a career going as soon as possible. Their counterparts in Montreal are so different. They say, 'Oh well, things will happen. Think I'll travel for awhile and maybe the job market will open up.' " Still, she acknowledges the absence of a certain kind of intensity that seems to exist only in Montreal. What's it like to live there now? she wants to know. "Could, well, would you live elsewhere?" Talk about being put on the spot. I calm her anxiety by admitting how annoying it sometimes is to be the invisible minority, and yes I could live elsewhere. Yet I do know how she feels. There isn't a word for it, but there should be: the feeling outside Quebec of something missing. Like after a loud noise stops, the quiet seems strangely empty. [email protected] Read more: http://www.montrealgazette.com/life/Something+missing+outside+Quebec/3476663/story.html#ixzz0yshetufo
  6. http://www.theglobeandmail.com/news/national/how-cities-grow-up-is-in/article1571442/
  7. Cities Grow at Suburbs' Expense During Recession By CONOR DOUGHERTY U.S. cities that for years lost residents to the suburbs are holding onto their populations with a mix of people trapped in homes they can't sell and those who prefer urban digs over more distant McMansions, according to Census data released Wednesday. Growing cities are growing faster and shrinking cities are losing fewer people, reflecting a blend of choice and circumstance. In Chicago, Matthew Sessa and his wife sold their townhouse and decided against buying a four-bedroom house in the suburbs. They bought a three-bedroom in Chicago's Lakeview neighborhood instead, with a yard not much bigger than their garage. "What we ended up getting in the city was just as nice, and the neighborhood that we moved into also has a very good elementary and junior high," said Mr. Sessa, a commercial banker who is 37 years old and has a baby due any day. But Chicago is also becoming home to people who can't sell their houses or find jobs elsewhere. Jhonathan Gomez, an organizer with the Latino Union of Chicago, a nonprofit that works with day laborers, said many immigrant workers have been moving back to the city from suburbs including Berwyn and Cicero. Mr. Gomez, who organizes on the north side of Chicago, said at one intersection in the city's Avondale neighborhood, the number of day laborers has roughly doubled in the past year, to as many as 150 or more on a typical day. "There's a lot of people moving to the city and looking for work because there's higher density and more jobs," he said. Chicago's population grew at a 0.73% annual rate in the year ended in July 2008 from 0.23% a year earlier and declines in the previous five years, according to an analysis of Census data by William H. Frey, a demographer at the Brookings Institution. Population growth also accelerated in smaller cities such as Minneapolis and Columbus, Ohio. Growing cities are growing faster and shrinking cities are losing fewer people, reflecting a blend of choice and circumstance. The Census data underscored how the recession and the real-estate slump have curbed migration, especially to suburbs and outer areas known as exurbs. The central-city population in U.S. metropolitan areas with more than one million people (excluding New Orleans, where recent growth rates reflect residents returning to the city following Hurricane Katrina) grew at an annual rate of 0.97% between July 2007 and July 2008, according to Mr. Frey's analysis. That compared with a growth rate of 0.90% in 2006-2007, and growth rates around 0.5% in the years between 2002 and 2005, when the robust real-estate market led to new jobs and new housing developments outside the cities, where open land is more plentiful. "This shows cities were reviving at the end of this decade, and they are also surviving a recession that has been a lot harsher for other parts of our landscape," Mr. Frey said. "Cities are big enough and diverse enough that they are able to survive these ups and downs in the economy a lot better." Population growth in the cities has translated to slower growth in the suburbs. U.S. suburbs in metro areas greater than 1 million people grew at a 1.11% annual rate in 2007-2008, the same as a year earlier and down from growth rates between 1.29% and 1.48% between 2002 and 2005, according to Mr. Frey's analysis. Brad Andersen, a managing broker at Griffith, Grant & Lackie Realtors said sales in suburban Chicago have fallen off considerably as real-estate prices have declined. In the Lake Forest suburb, there were 157 homes sold in 2008, compared with 227 a year earlier. "The money people planned to use as a down payment for the next home is no longer available," Mr. Andersen said. In Buffalo, Mayor Byron Brown said his administration has put much of its effort into programs that aim to stanch the outflow of residents, from redeveloping the city's waterfront to residential projects such as a former office building that has been converted into condominiums. He hopes that when the recession ends, the city will continue to hold on to more residents. "What we have been trying to do is position ourselves as a community that people will want to live in," he said. Population growth is starting to strain services in some cities. Public School 290 in Manhattan has about 650 students, about 250 more than capacity and above the posted fire-code occupancy. New York City's population grew at a 0.64% annual rate in 2007-2008, compared with growth rates between 0.37% and 0.55% from 2002 to 2005. The school has so little space that students who need occupational therapy have to meet with a therapist in a copy room, says Andy Lachman, an officer of the school's parent-teacher association whose daughter will be in fifth grade next year. "It adds stress to a situation that shouldn't have to be there," said Mr. Lachman. With the slowdown in construction and service jobs on the urban edges where development was greatest, a bigger share of immigrants are moving to central cities, instead of directly to the suburbs as they had during the real estate boom. The upshot is that the spread of racial diversity, which had been moving beyond gateway cities such as Los Angeles to suburbs and interior states, has slowed with the economy. Meanwhile, growth in urban Hispanic and Asian populations, much of it fueled by immigration, has accelerated in many city centers. That has already showed up in county demographic data released by the Census last month. In California, which saw Hispanic population growth slow during the housing boom as many immigrants bypassed the state and native-born Hispanics moved for opportunities elsewhere, the Hispanic growth rate increased to 2.4% in 2007-2008 from 2% a year earlier. Many Sunbelt cities saw population-growth slow from the torrid rates during the housing boom. In Tucson, the population grew at an annual rate just under 1% in 2007-2008, down from 1.35% in 2006-2007. Las Vegas's population slowdown was even more dramatic. It grew at a 0.38% annual rate in 2007-2008, down from 1.04% in 2006-2007 and rates as high as 3.30% during the height of the housing boom. http://online.wsj.com/article/SB124641839713978195.html
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